With the passage and signing into law of H.R.1, aka, The Tax Cuts and Jobs Act, the deduction limit for Section 179 increases to $1,000,000 for 2018.
Purchase or lease prior to January 01, 2019…
Section 179 of the IRS tax code allows qualified small businesses to deduct the full purchase price up to $1,000,000 of qualifying equipment purchased or leased during the current tax year from their 2018 income tax return.
This means if you purchase or lease qualifying equipment before the end of 2014 you can deduct the full price from your gross income.
The incentive for 2018 tax year will end at midnight on Dec 31, 2018.
NOTICE: This notification has been prepared by Restaurant Equippers, Inc. as a public service for our valued customers. It should not be considered as tax advice or a promise of tax savings or reduced tax liability to any individual or business. For more information, contact your tax professional, visit the Internal Revenue Service at www.irs.gov, visit www.section179.org, or various other sites dealing with Sec. 179 and/or depreciation bonus information.